We now know that ‘muddle through’ is over, and just as we noted here “there may only be painful ways out of this crisis” as we evidenced by Europe’s attack on Cypriot depositors. With the pillars of Abenomics starting to crumble, it seems plans are afoot to prepare for the bank failures that will come from a BoJ-inspired out-of-control bond market.
As Nikkei reports, Japan’s
Financial Services Agency will enact new rules that will forced failed
bank losses on investors, if needed, via a mechanism known as a
“bail-in.”
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